MADISON – Representative Katsma (R – Oostburg) released the weekly radio address on behalf of Wisconsin Legislative Republicans.
Last week the budget-writing committee voted for the largest tax cut in state history—over $4.4 billion.
Republicans reduced income taxes by $3.5 Billion dollars, that’s billion with a “B”. This represents an average tax cut of $537 per filer each year, which equates to an average cut of over 15%! Our tax plan reduces the bottom rate to 3.5%, the second two rates to 4.4%, and the top rate to 6.5%.
Reducing the top rate is a step in the right direction to stay competitive with our Midwestern neighbors but it also supports thousands of small businesses across Wisconsin.
Not only do we reduce rates in all the brackets, providing every Wisconsin taxpayer a tax cut, but we also collapse two brackets into one, truly focusing our cuts on those middle-class families in Wisconsin who have been hit the hardest during these inflationary times.
This historic tax relief isn’t just focused on income tax, we also provide over $600 million in property tax relief.
Whether it’s supporting local taxpayers through targeted property tax relief, or the elimination of the burdensome personal property tax for our businesses across the state, we remain committed to returning more of your money back to you.
Wisconsin Republicans believe that individuals know how to spend their own money better than Madison bureaucrats do. We are returning that money to you—all $4.4 billion of it!